According to Tom Robbins:
"Three of the four elements are shared by all creatures, but fire was a gift to humans alone. Smoking cigarettes is as intimate as we can become with fire without immediate excrutiation. Every smoker is an embodiment of Prometheus, stealing fire from the gods and bringing it on back home. We smoke to capture the power of the sun, to pacify Hell, to identify with the primordial spark, to feed on the marrow of the volcano. It's not the tobacco we're after but the fire. When we smoke, we are performing a version of the fire dance, a ritual as ancient as lightning."
Still Life With Woodpecker.

Also, cigarettes serve as effective punctuation in several ways. A cigarette can be...
...a period: "I'll go right after this cigarette . . .".
...a <p>: A cigarette break during a long day at work does wonders for clearing the mind of frustration, confusion, etc; it gives you breathing room (pun very much intended). Cigarettes are particularly effective to this end, because to take a cigarette break, one usually has to go somewhere other than where s/he is working. This is a good thing.
...a comma or semicolon: When telling a story, a drag off a cigarette tends to fit perfectly into the pause that goes with a comma or semicolon.
...a tilda: Well, maybe this one's a bit of a stretch, but ~'s do look like smoke. heh heh heh.